Texas Instruments (NASDAQ:TXN) Stock: Insider Jean Hobby Sells 8,758 Shares

Texas Instruments Incorporated (NASDAQ:TXN) Director Jean Hobby sold 8,758 shares of Texas Instruments stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $308.92, for a total value of $2,705,521.36. Following the completion of the transaction, the director directly owned 4,627 shares in the company, valued at approximately $1,429,372.84. This represents a 65.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Texas Instruments Trading Down 2.8%

NASDAQ:TXN traded down $8.88 on Friday, reaching $303.60. 5,228,771 shares of the stock traded hands, compared to its average volume of 9,484,298. The firm has a market capitalization of $277.42 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 1.53 and a beta of 1.39. The company’s 50 day moving average is $283.87 and its 200-day moving average is $264.14. The company has a current ratio of 5.59, a quick ratio of 4.05 and a debt-to-equity ratio of 0.67. Texas Instruments Incorporated has a 1-year low of $152.73 and a 1-year high of $334.03.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.22. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.94 billion. Texas Instruments had a net margin of 34.25% and a return on equity of 40.51%. The company’s revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 EPS. Equities research analysts anticipate that Texas Instruments Incorporated will post 8.99 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Friday, October 30th were given a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a dividend yield of 2.0%. This is a boost from Texas Instruments’s previous quarterly dividend of $1.42. The ex-dividend date was Friday, October 30th. Texas Instruments’s dividend payout ratio is currently 78.86%.

Hedge Funds Weigh In On Texas Instruments

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Texas Instruments during the second quarter worth $24,607,313,000. Bank of New York Mellon Corp acquired a new stake in Texas Instruments in the second quarter worth $4,488,666,000. Bank of America Corp DE acquired a new stake in Texas Instruments in the second quarter worth $3,700,842,000. Primecap Management Co. CA bought a new stake in Texas Instruments in the second quarter valued at $2,538,063,000. Finally, Legal & General Group Plc bought a new stake in Texas Instruments in the second quarter valued at $1,918,277,000. 84.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TXN. Robert W. Baird lifted their target price on shares of Texas Instruments from $300.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Morgan Stanley upped their price target on shares of Texas Instruments from $255.00 to $278.00 and gave the company an “underweight” rating in a research report on Thursday, October 22nd. Zacks Research raised shares of Texas Instruments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Sanford C. Bernstein increased their price target on Texas Instruments from $250.00 to $290.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Finally, Benchmark lifted their price objective on Texas Instruments from $315.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.37.

About Texas Instruments

Texas Instruments Incorporated (NASDAQ:TXN) designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems. The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.